(Financial close)
Zero-Emission Buses supporting Durham Region’s goal of transitioning to an emission neutral fleet by 2037
Durham Region will purchase 98 zero-emission buses (ZEBs) to replace its conventional diesel buses.
Fast facts
The CIB’s $62 million investment with Durham Region towards 98 zero-emission buses (ZEBs) – an alternative low-carbon transit solution – will support a more sustainable community for residents.
The CIB will finance a portion of the ZEBs which Durham Region plans to purchase over the next four years and will be repaid from expected fuel and maintenance cost savings as measured against costs of an equivalent diesel bus.
The addition of these electric buses will support DRT’s E-Mission Zero program and Durham’s plan to transition to a full fleet of zero-emission vehicles by 2037.
Aligning with Durham Region’s Corporate Climate Change Action Plan and Community Energy Plan, DRT is committed to adopting renewable technologies that contribute to sustainable communities across the Region.
Benefits of the CIB’s involvement
The CIB’s Zero-Emission Buses Initiative assists transit agencies and school boards in transitioning their fleets to modern, environmentally friendly vehicles. The financing, in the form of direct loans, can cover a portion of the higher upfront capital cost of ZEBs compared to diesel buses. We enable our partners to modernize their bus fleets on an accelerated basis by taking advantage of our flexible financing options.
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